On September 17, 2025, Rodatherm Energy announced the successful closing of its over-subscribed $38-million Series A financing round led by Evok Fund II Limited Partnership (Evok Innovations) with participation from TDK Ventures, Toyota Ventures, TechEnergy Ventures, MCJ, Active Impact Investments, Renewal Funds, Grantham Foundation for the Protection of the Environment, Giga Investments and others. Rodatherm Energy plans to capitalize on the surging demand in electricity and high willingness to pay for clean, firm, secure power worldwide by using the Series A funds to build and deploy their pilot geothermal system in Utah.
Rodatherm Energy is a privately held geothermal power generation company distinguished by its pioneering proprietary geothermal system, which delivers highly efficient, low-cost and firm geothermal power.
Evok Innovations, headquartered in Vancouver, British Columbia, is a leading climate-focused venture capital firm investing in hard tech solutions for heavy industry. Evok is focused on empowering the next generation of entrepreneurs to lead the charge in developing transformative technologies that redefine industries and drive meaningful change.
Osler, Hoskin, and Harcourt LLP advised both Rodatherm Energy with a team consisting of Jacob Young, Emy Ezeani and Gaby Fekete, and Evok Innovations with a team consisting of Justin Young and Laura Webb (Emerging and High Growth Companies).
Key Contacts
Partner, Emerging and High Growth Companies, Calgary
Partner, Emerging and High Growth Companies, Vancouver
Team
Partner, Emerging and High Growth Companies, Vancouver
Associate, Emerging and High Growth Companies, Calgary
Associate, Emerging and High Growth Companies, Calgary
